This IIT grad is taking on MNC giants with her $100 mn beauty brand

Before the Covid-19 outbreak in the country, Vineeta Singh's firm SUGAR had already crossed Rs 100 crore in net revenue and posted an 85% YoY growth rate

When Vineeta Singh, co-founder and CEO of SUGAR Cosmetics pitched her lipstick business a few years ago for funding to a bunch of venture capitalists (VCs), most of whom were men, they turned it down. They told her that the market was not large enough for brands that focused on millennials. She was told her fledgeling venture would not work as the product had no differentiation to build a strong brand and compete with large players.

“Most VCs are men and for them to appreciate the value of a lipstick that lasts longer, takes (more) time,” says Singh, who was